Land O' Lakes, FL Cost of Living

Land O' Lakes cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.

An overview of the general cost of living index for Land O' Lakes, FL is displayed above for your reference. Residents in Land O' Lakes, FL enjoy a cost of living index of 101. This index is 1% higher than the Florida average, and 1% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Land O' Lakes, FL, the average cost of goods and services is 5% lower than it is in Florida, and it is 4% lower than the national average.

Did you know?

The cost of living in Land O' Lakes is 1% higher than the Florida average.

The cost of living in Land O' Lakes is 1% higher than the national average.

The cost of housing in Land O' Lakes is 8% higher than the national average.

Florida general sales tax is 18% higher than the national average.

Florida state income tax is 100% lower than the national average.

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Compare Land O' Lakes, FL Cost of living To Other Cities

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Cost of living index

Goods & Services index

Groceries index

Health care index

Housing index

Transportation index

Utilities index

Use the salary calculator to compare your current income in Land O' Lakes, FL to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Land O' Lakes, FL, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Land O' Lakes, FL salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median Income

Per Year

Per Month

Max Budget (28% DTI)

Max Budget (36% DTI)

Owners

$70,953

$5,913

$1,655

$2,129

Renters

$46,623

$3,885

$1,088

$1,399

How much of your monthly income goes to housing can tell you whether or not you can afford housing in Land O' Lakes, FL, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Land O' Lakes, FL homeowners have a median income of $70,953. Using that number, you will come up with a maximum of $1,655 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $46,623, which means there is a maximum of $1,088 to be spent on the costs of renting a home or apartment.

Florida Sales Tax

State

General Sales Tax

With Max Surtax

Florida

6%

7.5%

Florida Income Tax

State

Income Tax (Low)

Income Tax (High)

Florida

0%

0%

When assessing the complete cost of living in Land O' Lakes, FL, the Florida income tax and the Florida sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Florida maximum surtax is 7.5%, and the Florida sales tax is 6%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 0% to 0% in Florida.

Goods & Services

Item

Land O' Lakes

National avg.

Difference

Haircut

$14.10

$14.59

3.4%

Beauty Salon

$32.10

$34.68

7.4%

Toothpaste

$2.28

$2.47

7.8%

Shampoo

$1.00

$1.02

2.2%

Movie

$9.61

$9.87

2.6%

Bowling

$5.22

$4.39

18.9%

Groceries

Item

Land O' Lakes

National avg.

Difference

Ground Beef

$4.61

$4.48

3.0%

Fried Chicken

$1.51

$1.46

3.1%

Milk

$2.70

$2.36

14.6%

Potatoes

$3.47

$3.06

13.3%

Pizza

$8.49

$9.24

8.1%

Beer

$8.67

$8.63

0.4%

Health Care

Item

Land O' Lakes

National avg.

Difference

Optometrist

$91.30

$99.78

8.5%

Doctor

$85.80

$105.03

18.3%

Dentist

$75.44

$88.70

15.0%

Ibuprofen

$9.44

$9.41

0.3%

Lipitor

$324.53

$298.50

8.7%

Housing

Item

Land O' Lakes

National avg.

Difference

Home Price

$171,000.00

$175,700.00

2.7%

Avg. Mortgage Payment

$774.61

$1,081.03

28.3%

Apartment Rent

$1,223.00

$920.00

32.9%

Transportation

Item

Land O' Lakes

National avg.

Difference

Gasoline

$2.08

$2.09

0.3%

Tire Balancing

$48.65

$45.29

7.4%

Utilities

Item

Land O' Lakes

National avg.

Difference

All Electricity

$160.88

$170.80

5.8%

Phone

$32.47

$28.26

14.9%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.